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Deductions & credits
somehow the 15.3% social security tax has to be paid...... so if he is an employee, the LLC would have been responsible for withholding 7.65% (SS and medicare tax) from his paycheck and then the LLC would have been responsible for the employer match).. alternatively your son receives a 1099 and he is responsible for the 15.3% tax (TT will calculate this automatically).
‎January 17, 2020
11:35 AM